A geological study indicates that an exploratory oil well should strike oil with probability .2. a What is the probability that the first strike comes on the third well drilled? b What is the probability that the third strike comes on the seventh well drilled? What assumptions did you make to obtain the answers to parts (a) and (b)?
A geological study indicates that an exploratory oil well should strike oil with probability .2. a What is the probability that the first strike comes on the third well drilled? b What is the probability that the third strike comes on the seventh well drilled? What assumptions did you make to obtain the answers to parts (a) and (b)?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
Related questions
Question
Transcribed Image Text:3.97
A geological study indicates that an exploratory oil well should strike oil with probability .2.
a
What is the probability that the first strike comes on the third well drilled?
b What is the probability that the third strike comes on the seventh well drilled?
What assumptions did you make to obtain the answers to parts (a) and (b)?
Expert Solution
Step 1
Here given geological study indicate that an exploratory oil well should strike oil with probability 0.2
p = 0.2
q = 1-p = 0.8
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
Recommended textbooks for you